FAQ

ThinkWallet.com is a digital platform offering a convenient way to connect you with reliable lenders or lending partners that would be able to provide you with the required funding.

The services we provide are free, so all you have to consider when it comes to costs are the fees of a lender.

As ThinkWallet.com is not a lender or lending partner, it is not authorized to make credit decisions. Instead, this online service facilitates choice and access to the extensive network of lenders in your state, whether for personal loans, credit cards, or business loans. 

Below we have gathered the most frequently asked questions about ThinkWallet.com services and offerings. If you cannot find the answer you are looking for, don’t hesitate to contact us, and we will be happy to help you with your inquiry.

However, if the question refers to the loan approval and repayment or any other terms of a particular loan, you should contact your lender or lending partner for advice.

Acting as a personal loan marketplace, not a lender or lending partner, we cannot take questions about pending or approved loans.

  1. What is a personal loan?

A personal loan is an option for those who need quick funding. It can be used for almost anything a borrower wants and usually must be repaid with a fixed term and interest rate.

  1. Who can take out a personal loan?

Typically, personal loan requirements include the following:

  • An applicant is an adult (aged 18 and over) U.S. citizen or a permanent resident;
  • An applicant provides a valid email address, work phone number, and home phone number;
  • An applicant has a job (for about 90 days in the current position) or another legal source of predictable income.
  • An applicant’s income is about $1,000 per month after tax withholdings.
  1. How much can I get with a personal loan?

How much you can borrow depends on multiple factors the lender or lender partner considers, from the specific state’s rules and restrictions to the applicant’s age, repayment capacity, desired payoff time frame, etc. Most of our lenders and lending partners offer personal loans from $2,500 to $35,000.

  1. How do I receive money?

Typically, money is deposited in the individual’s bank account the next day after the loan is approved as long as the applicant accepts the loan terms.

  1. Is it possible to get a loan after bankruptcy or having bad credit?

Although good or excellent credit scores are desirable to get approved for a loan, it all depends on a specific lender’s underwriting standards. In some cases, short-term consumer loans can be an acceptable alternative for applicants with bad credit.

We always try to find a lender or lending partner who could offer a loan for the amount that any of our customers request. We turn to our network of short-term lenders and lending partners if necessary.

  1. How long does it take to find a lender or a lending partner via ThinkWallet.com?

Our online request form takes just a couple of minutes to complete, and we will immediately start the search for a lender or lending partner that is ready to provide you with the loan option. Usually, our customers get a response from one of our lenders or lending partners within minutes, and the loan approval process and funding take from 24 to 48 hours.

  1. Will I need a printer or fax machine?

Actually, it all depends on a lender or lending partner you choose. Some of them just ask their customers’ permission to access all the necessary information like bank statements or income verification online, while others may need the customer to send the relevant copies or receipts by fax or email.

Anyway, you will typically need to use a printer to print out a copy of your loan agreement. However, you should foremost contact your lender or lending partner if you have some questions after the loan is funded.

  1. What is the cost of a short-term consumer loan?

Using ThinkWallet.com online service is absolutely free regardless of the type of the loan, but the cost of a particular loan is defined on a case-by-case basis. Lenders and lending partners provide their customers with full information about all their offers and applicable rates so that they can make a decision.

In general, short-term consumer loans come with higher interest rates than long-term ones but allow you to get out of debt faster, so they are less costly than late charges, NSF fees, etc. Please evaluate the time you will need to repay a loan before accepting the specific lender’s terms.

  1. Can I get a new cash advance if I already have an outstanding one?

Generally, it is possible. However, many factors may affect the lender’s or lending partner’s decision, including a particular state’s laws and regulations. In any case, you should inform your new lender or lending partner about the existing personal loan before you accept a new one.

  1. When and how am I supposed to repay the personal loan?

You can choose secure and reliable ACH payment authorization to avoid confusion and potential late fees. Your loan payment will be automatically taken from your bank account at the due date.

If you are interested in changing some terms, for example, extending your existing loan, please contact your lender or lending partner in advance before you are late on your payment.

  1. What happens if I’m late on my loan payment?

Missed payments may involve additional fees. However, each lender or lending partner has its own requirements and policies concerning late loan payments. Carefully review your loan agreement to check these terms or contact your lender or lending partner.

  1. How is my personal data protected?

ThinkWallet.com protects your personal information with industry-leading security technology, following strong encryption standards. Thus we ensure your data is transmitted and stored securely in an encrypted format. Please look through our privacy policy for more details.

  1. When can I take out another loan? 

Unless otherwise provided by your state’s law, you can use ThinkWallet.com to find a new lender or lending partner anytime. The main requirement is to notify the new lender or lending partner that you already have an outstanding personal loan.

  1. Can I get an extension on repaying my existing loan, and how many payments can I defer?

The process of changing the loan terms depends on both the state law and a particular lender’s or lending partner’s practices. Thus, this question should be considered according to the facts of each situation.

Please get in touch with your lender or lending partner if you need to extend your loan so that you can explore your options before you are late on your payments.

  1. What happens if I cannot pay back my loan?

If you fail to repay your loan on time, a default may occur. Late payments and default can lead to overdraft fees, penalties, etc., and have an adverse impact on your credit score. As a result, you may have difficulty getting approved for future personal loans.

If you cannot make a payment on time, you should contact your lender or lending partner as soon as possible and ask if they have any solutions available in your particular situation.